U.S. natural gas production grew by 10.0 billion cubic feet per day (Bcf/d) in 2018, an 11% increase from 2017. The growth was the largest annual increase in production on record, reaching a record high for the second consecutive year. U.S. natural gas production measured as gross withdrawals averaged 101.3 Bcf/d in 2018, the highest volume on record, according to EIA’s Monthly Crude Oil, Lease Condensate, and Natural Gas Production Report. U.S. natural gas production measure
U.S. crude oil exports grew to an average of 1.1 million barrels per day (b/d) in 2017, the second full year since restrictions on crude oil exports were removed. Crude oil exports in 2017 were nearly double the level of exports in 2016. Increased U.S. crude oil exports were supported by increasing U.S. crude oil production and expanded infrastructure. U.S. crude oil exports went to 37 destinations in 2017, compared with 27 destinations in 2016. Similar to previous years, Can
Natural gas spot prices in 2016 averaged $2.49 per million British thermal units (MMBtu) at the national benchmark Henry Hub, the lowest annual average price since 1999. The monthly average price fell below $2.00/MMBtu from February through May, but later increased, ending the year at an average of $3.58/MMBtu in December. Warmer-than-normal temperatures for most of the year and changing natural gas demand were the main drivers of natural gas prices in 2016. Natural gas price
U.S. distillate exports increased 85,000 barrels per day (b/d) in 2015, reaching nearly 1.2 million b/d. Distillate exports in the first six months of 2016 have averaged 50,000 b/d more than in the first half of 2015. U.S. distillate imports, which are relatively fewer, averaged 200,000 b/d in 2015 and 157,000 b/d in the first half of 2016. Patterns of U.S. distillate trade can be explained by regional supply and demand imbalances within the East Coast and Gulf Coast regions.
The number of countries receiving exported U.S. crude oil has risen since the removal of restrictions on exporting U.S. crude oil in December 2015. U.S. crude oil exports have occurred despite relatively small price spreads between international crude oils and domestic crude oils, as well as other factors that should reduce crude oil exports such as falling U.S. crude oil production and added cargo export costs. Based on the latest available data, U.S. crude oil exports avera